Reconciled items negative instead of positive

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  • Updated 12 months ago
I'm trying to do a bank rec on a credit card - it started off as a (negative) figure of -$10878.03, owner paid $40000 into the account and purchases of $15773.63 which would leave a closing balance of $13348.34.When i reconcile all items, it comes up as reconciled transactions -$24226.37 instead of $24226.37.  Hense the closing balance is $35104.40 instead of the correct total of $13348.34 which I have triple cheacked as well as confirming with the bank.I've rung the helpline but they couldn't help.Save me......
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Susan

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Posted 12 months ago

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Tim A

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For some reason the initial amount of -$10878.03 has not been included in the reconciliation. When you started the reconciliation did the -$10878.03 show up as the start figure?
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Susan

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Hi Tim, yes it stated that was the opening balance.
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Tim A

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The only other thing I can think of is that you have entered the transactions in the wrong column.
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Susan

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I did double check that. Even deleted imported and a and reentered myself.
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Tim A

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Sorry you've beet me
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Rick Clement

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If you just started this account a common issue is recording the opening balance as a negative. As it knows it's a credit card it doesn't need you to put the minus sign. Just enter the amount of the balance.
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Susan

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Ah, ok, I'll check that, thanks Rick.
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Susan

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Oh Tim, don't give up just yet. Lol